(noun) - "Watercolor" has several meanings. First, it means a pigment that, when used with water as a medium, creates a type of paint. Watercolor paint is transparent, and the white of the ground (paper) underneath provides light that shines through the painting.
Secondly, a watercolor is the name of a painting created with watercolors.
Finally, watercolor (specifically: to watercolor) is the art of painting with watercolors.

